Pepe Coin price surged after Donald Trump's victory in the US election as whales began to accumulate in large numbers, suggesting that PEPE price could surge. PEPE price surged 13% in the past 24 hours, having previously hit a high of $0.000096. It retreated to around $0.0000923 at 06:10 AM ET.
Whale Accumulation Signals Pepe Coin Price Breakout
Data from Santiment shows that whales began accumulating PEPE after the asset rebounded from a key support level, with Donald Trump's victory in the US election and Dogecoin (DOGE) price surging more than 25% also driving the buying frenzy.
The number of large trades involving whales with a net worth of $1 million or more broke a two-month high, indicating growing interest from these large players.
![鲸鱼交易计数 [PEPE]](https://public.bnbstatic.com/image/pgc/202411/e6ed162fc1f93d83f273c688f04eb866.png)
Additionally, PEPE active addresses broke through a two-week high, indicating increased user engagement and trading activity, which could lead to increased demand and potentially push up PEPE prices.
The daily on-chain transaction volume profit-loss ratio also soared to 2.88, breaking a one-month high, which means that for every loss-making PEPE transaction, about 3 are profitable, making investing in Pepe coins more profitable. Overall, it increases investors' confidence in future price increases.
News that Robinhood added support for PEPE also contributed to the shift in market sentiment and an increase in whale buying.
Derivatives traders bullish on PEPE prices
Data from Coinglass shows that futures traders are preparing to push PEPE prices higher, with PEPE open interest increasing 2.1% while prices surged 11%.
Combining these two indicators, they show that traders are closing their profits and may switch to opening long positions, which suggests that the Pepco price could surge in the coming days.
Pepe Coin Price Analysis: Bullish Pennant Suggests Rally to $0.00021
PEPE’s price action is also consolidating within a massive symmetrical triangle portion of a bull pennant as whales scramble to grab bags of PEPE, potentially leading to a 1,850% surge in the Meme Token to $0.00021.
Moreover, PEPE has found support at the 0.618 Fibonacci retracement level of the recent rally and the PEPE price could break out of this triangle and create higher highs at $0.000012, $0.00002886, $0.000023, $0.00002989, and $0.000094, hitting key resistance levels along the way.
Pepe Coin currently has a market cap of $3.9 billion and if it rises by more than 1,800%, the asset’s market cap would reach $74.1 billion, which is quite reasonable compared to where the cryptocurrency market is expected to reach in the 2025 bull run.
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